The Best CD Rates Around|Best Cds For The Novice Investor

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By Cornelius Nunev


You are not going to get prosperous purchasing CDs, but you could do a lot worse. The primary cause of this is low interest rates. Regardless, here are the best CDs available today, based largely upon greatest yield.

Best certificates of deposit No. 1 - Ally Bank

You can get 0.94 percent interest on a one-year CD at Ally that is compounded at the optimal every day rate. There is no minimum required in the account and renewal can set as the CD reaches maturity. If you would like a 5-year CD, you can get 1.59 percent APY, according to Money Magazine.

Go to Nationwide Bank for a choice

The CD goods at Nationwide are pretty amazing. In fact, you can get 1 percent APY on a one-year CD with no minimum deposit. You can get better rates with a 5-year CD at 1.80 APY. Anything over $100,000 gets an even better deal.

Get your CD at OneWest Bank

OneWest gets top ratings for both its CD rates and consumer service. With a $1,000 minimum opening deposit on a 1-year CD at 1 percent APY, OneWest is a popular choice. Its 5-year CD attributes a 1.60 percent APY, and both CDs are compounded every day.

Next might be Bank of Internet USA

While not quite as popular as the other banks on this list, Bank of Internet USA has highly competitive rates due to low overhead. Its 1-year cd has 0.80 percent APY with a $1,000 minimum opening. If you can wait for five years before your CD matures, then the APY will turn into 1.60 APY. In both cases, interest is compounded daily for maximum return.

Head to EverBank

Opening a CD will cost $1,500 for somebody at EverBank, but the bank has some of the best consumer service in the industry. The bank offers 0.81 APY on one year CDs and 1.65 APY on five year plans.




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